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Growth in media alone is still not enough for WPP’s recovery

Positive results in media and production did not offset weaker creative performance in the third quarter. With renewed contracts with major advertisers, the group maintains its goal of returning to growth during 2027.

Media Marketing redakcijabyMedia Marketing redakcija
05/11/2026
in News
Reading Time: 3 mins read
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The media business has started growing again, but the largest part of WPP’s business is still shrinking. Third-quarter results, published on October 29, showed that media services and production achieved growth, while the decline in the creative business deepened. For a group seeking to connect its services more closely through its Elevate28 strategy, that gap remains a significant obstacle to recovery.

WPP Media recorded growth in revenue less pass-through costs of 0.3% on a like-for-like basis. The modest increase followed several quarters of decline, with the company attributing it to improving spending trends among existing clients and a growing contribution from new business. The result also benefited from a weaker prior-year comparison and the timing of certain activities.

At WPP Creative, the direction was the opposite: the decline deepened from 3.5% in the second quarter to 5.1% in the third. Reduced client spending had the greatest impact on integrated creative agencies, while PR returned to growth and branding and design agencies also delivered positive results. The creative division accounted for almost half of the group’s revenue less pass-through costs, giving its performance a particularly significant impact on the overall business. WPP Production grew 2.5% over the same period.

At group level, revenue less pass-through costs amounted to £2.41 billion, representing a decline of 2.1% on a like-for-like basis. Total revenue, meanwhile, rose 0.5% to £3.27 billion. The difference between the two measures explains why a slight increase in total revenue does not yet mean a return to growth in the agency business.

Among the assignments highlighted in its quarterly report, WPP cited the retention of its global media remit for The Coca-Cola Company. The account review did not cover North America, Japan or South Korea. The list of new assignments and renewed partnerships also included DoorDash, Nestlé, Uber and Waymo, which management cited as evidence of interest in the group’s integrated offering.

However, the performance of the existing client portfolio shows why new contracts are not yet enough. Revenue from the 25 largest clients remained below the previous year’s level, partly due to earlier account losses. Business with advertisers in the automotive and healthcare sectors continued to grow, while consumer packaged goods, technology and digital services, and retail recorded declines.

Chief Executive Officer Cindy Rose said the results were in line with expectations and that the first phase of the Elevate28 plan, focused on stabilising business performance and simplifying the organisation, was progressing as planned. During the quarter, the company opened a new production facility in East London, expanded its network of data partners and appointed Tyler Turnbull as CEO of WPP Creative.

Management left its full-year guidance unchanged: it continues to expect revenue less pass-through costs to decline in the second half of 2026, with a better performance in the final quarter. A return to growth remains the goal for 2027, when new business and changes in ways of working are expected to make a greater contribution to results.

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  • Media Marketing redakcija
    Media Marketing redakcija
    Media Marketing is the most relevant media in the communications industry of the Adriatic region, created with an idea and the vision to educate, inform and bring the professionals from the industry together on daily basis.
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